On June 30, 2020, the European Union (EU) and the European Bank for Reconstruction and Development (EBRD) announced that they are stepping up their support for green investments and climate resilience in Egypt, Morocco and the countries of the Eastern Partnership (Armenia, Azerbaijan, Belarus, Georgia, Moldova and Ukraine).
In the Eastern Partnership region, EUR15.4 million from the EU4Climate initiative will be channelled through the EBRD’s Finance and Technology Transfer Centre for Climate Change programme to corporate sector clients via investment grants, technical assistance and the offer of climate innovation vouchers. This will help accelerate the adoption of innovative climate technologies and sustainable business practices.
Olivér Várhelyi, European Union Commissioner for Neighbourhood and Enlargement, said: “Our longstanding cooperation with the EBRD is extremely valuable, including in the domain of green finance where the bank has important experience. In Egypt and Morocco as well as in the Eastern Partnership countries, our joint support will help to step up energy-efficient and renewable-energy investments in the private sector, thus helping to build sustainable economies.”
In total, the EU is providing EUR61.3 million in grants to support three EBRD programmes helping businesses invest in energy efficiency, cut their carbon footprint, introduce innovative green technologies, support the circular economy and improve legal frameworks for energy and resource efficiency investments.